Real Estate Industry News

In Newport Coast, a colossal mansion overlooking the ocean just sold for a whopping $61 million — shattering the all-time price record in Orange County.

It’s the most ever paid for a home in Orange County by a decent margin, beating out a two-home compound above Newport Harbor that traded hands for $55 million in 2017.

In terms of square footage, this one is much larger, clocking in at nearly 19,000 square feet. Perched on a double-lot property of nearly an acre, the extravagant mansion takes in an 80-mile panorama of ocean and city lights.

In addition to the main house, there’s a spacious guesthouse and 6,800 square feet of garages with room for 12 cars. Manicured gardens and mature palm trees fill out the front of the estate, and the house itself wraps around a courtyard with a fountain.

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Inside, six bedrooms and 12 bathrooms are spread across three stories. According to the listing, highlights include a movie theater, gym, sauna, game room, office, bonus room and den.

The upper level expands to a massive deck overlooking the backyard complete with a swimming pool and spa perched at the edge of the property.

Built in 2017, the property first surfaced for sale at $68 million in June. Records show it last sold for $5.95 million in 2007.

Rob Giem of Compass held the listing. Tim Smith of Coldwell Banker Realty represented the buyer.